Recruitment and headhunting firm Core-Asset Consulting have recorded their best ever results – during 12 months which saw them turn a loss into a half million pound profit. Recent results show the company has achieved more than £500,000 in net profit in 2018/19 despite recording a loss of £88,550 in the previous financial year. Founder and managing director Betsy Williamson, said staying faithful to the firm’s core specialisms had helped it to enjoy its most successful year since it was launched in 2005.
“The results speak for themselves and to say I am proud of what the team has achieved doesn’t even begin to do them justice,” she said. “Delivering profits of this scale a year after recording a small loss really puts it into perspective.
“Although we were in the red in the previous year, that was the only loss we have posted since I launched the company. I was never any doubt that it was a blip and I’m delighted we’ve now recorded our best ever year,” she added.
The first half of its only loss-making year was hit hard by reduced levels of recruitment activity. However, that prompted a round of efficiencies and cost cutting, while the market also picked up in the second half of 2017/18. The company’s focus on consultant productivity and cost control carried through into 2018/19 and Betsy added: “We are now in better shape than we’ve ever been to meet the challenges the financial sector, in particular, is facing.”
From the outset, Core-Asset carved its reputation within Scotland’s globally renowned asset management sector. However, the success of its model allowed it to expand across the wider financial services market. It now boasts dedicated accounting and finance teams and also works in Scotland’s thriving legal sector.
Throughout, Betsy has ensured that Core-Asset applies the same intensity and disciplines more historically associated with executive search throughout all of its recruitment, including contingency. This means that its teams can fully understand client briefs thanks to being intimately associated with their specialist sectors and – by combining that with the latest tools and systems – can source the exact talent to thrive in the role.
Betsy commented: “We’re at a pivotal point in time in Scotland as many of our traditional home-grown firms and brands are disappearing.
“Instead – and across most of our disciplines – it is the multinational ‘supertankers’ at one end and the boutique independents at the other extreme that are flourishing. By specialising, we’ve been able to keep closely attuned to the changes and the challenges, working with our clients to provide long-term valuable employees or short-term solutions.”